Feds charge gaming website with skimming $444 million

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Full Tilt Poker was blocked from the United States this spring and has criminal and civil charges filed against it. (Courtesy photo)

Full Tilt Poker was blocked from the United States this spring and has criminal and civil charges filed against it. (Courtesy photo)

WHAT: Federal prosecutors added charges to their civil lawsuit against Full Tilt Poker, accusing the large-scale gambling website of being “not a legitimate poker company, but a global Ponzi scheme.”

WHY: Authorities charged that the company owed players $390 million and had only $60 million in its bank accounts to cover it. Full Tilt allegedly used $444 million in player money to fund operations and make lavish payments to its executives.

WHAT’S HAPPENING NEXT: Full Tilt was blocked from the U.S. this spring and has both civil and criminal charges pending against it. The company’s two top executives are still being sought by federal authorities.